Insider Selling: Turning Point Brands, Inc. (NYSE:TPB) Director Sells $78,840.00 in Stock

Turning Point Brands, Inc. (NYSE:TPB) Director Gregory H.A. Baxter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $39.42, for a total transaction of $78,840.00. Following the sale, the director now owns 46,544 shares of the company’s stock, valued at $1,834,764.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Turning Point Brands Price Performance

NYSE TPB opened at $39.20 on Friday. The company has a current ratio of 1.80, a quick ratio of 1.17 and a debt-to-equity ratio of 1.43. Turning Point Brands, Inc. has a 12 month low of $19.67 and a 12 month high of $40.66. The stock has a market cap of $690.78 million, a price-to-earnings ratio of 17.27 and a beta of 0.62. The company’s 50 day moving average is $35.87 and its two-hundred day moving average is $31.21.

Turning Point Brands (NYSE:TPB) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.82 EPS for the quarter. The firm had revenue of $108.51 million for the quarter. Turning Point Brands had a net margin of 11.36% and a return on equity of 36.11%.

Turning Point Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Friday, September 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date of this dividend is Friday, September 13th. Turning Point Brands’s dividend payout ratio (DPR) is 12.33%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP purchased a new position in shares of Turning Point Brands in the first quarter worth $1,587,000. Harspring Capital Management LLC bought a new position in shares of Turning Point Brands during the 4th quarter valued at about $2,101,000. Lord Abbett & CO. LLC grew its position in shares of Turning Point Brands by 45.2% during the first quarter. Lord Abbett & CO. LLC now owns 255,309 shares of the company’s stock valued at $7,481,000 after purchasing an additional 79,489 shares in the last quarter. Boston Partners bought a new stake in shares of Turning Point Brands in the first quarter worth about $964,000. Finally, Tidal Investments LLC purchased a new stake in shares of Turning Point Brands in the first quarter worth about $1,661,000. 96.12% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPB has been the topic of several analyst reports. StockNews.com upgraded shares of Turning Point Brands from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Turning Point Brands in a report on Friday, August 2nd.

Turning Point Brands Company Profile

Turning Point Brands, Inc, together with its subsidiaries, manufactures, markets, and distributes branded consumer products. The company operates through three segments: Zig-Zag Products, Stoker's Products, and Creative Distribution Solutions. Zig-Zag Products segment markets and distributes rolling papers, tubes, finished cigars, make-your-own cigar wraps, and related products, as well as lighters and other accessories under the Zig-Zag brand.